Stock Traders Purchase High Volume of Call Options on Marqeta (NASDAQ:MQ)

Marqeta, Inc. (NASDAQ:MQ – Get Rating) was the target of some unusual options trading activity on Monday. Investors acquired 51,621 call options on the company. This represents an increase of 755% compared to the average daily volume of 6,037 call options.

Insider Buying and Selling at Marqeta

In related news, Director Judson C. Linville acquired 44,650 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was acquired at an average price of $4.46 per share, with a total value of $199,139.00. Following the acquisition, the director now directly owns 44,650 shares of the company’s stock, valued at $199,139. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 22.24% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MQ. Capital Research Global Investors boosted its holdings in Marqeta by 349.7% in the first quarter. Capital Research Global Investors now owns 37,142,171 shares of the company’s stock valued at $410,050,000 after acquiring an additional 28,882,196 shares during the last quarter. Visa Inc. bought a new stake in Marqeta in the first quarter valued at approximately $137,389,000. FMR LLC boosted its holdings in Marqeta by 115.8% in the first quarter. FMR LLC now owns 17,762,677 shares of the company’s stock valued at $81,175,000 after acquiring an additional 9,531,356 shares during the last quarter. State Street Corp boosted its holdings in shares of Marqeta by 785.9% during the 2nd quarter. State Street Corp now owns 8,385,190 shares of the company’s stock worth $68,004,000 after buying an additional 7,438,632 shares in the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Marqeta by 87.7% during the 1st quarter. Vanguard Group Inc. now owns 15,582,276 shares of the company’s stock worth $172,028,000 after buying an additional 7,280,853 shares in the last quarter. Institutional investors and hedge funds own 61.35% of the company’s stock.

Wall Street Analyst Weigh In

MQ has been the subject of several research reports. KeyCorp dropped their price target on shares of Marqeta from $6.00 to $5.00 and set an “overweight” rating for the company in a research note on Wednesday, April 5th. Mizuho decreased their price objective on shares of Marqeta from $7.00 to $6.00 in a research report on Tuesday, May 16th. Morgan Stanley cut shares of Marqeta from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $8.00 to $4.50 in a research report on Monday, April 3rd. JPMorgan Chase & Co. cut shares of Marqeta from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $9.00 to $6.00 in a report on Wednesday, March 1st. Finally, Credit Suisse Group reduced their target price on shares of Marqeta from $13.50 to $8.00 and set an “outperform” rating for the company in a report on Wednesday, March 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $7.15.

Marqeta Stock Performance

MQ opened at $4.74 on Tuesday. The firm’s 50-day simple moving average is $4.21 and its 200-day simple moving average is $5.54. Marqeta has a twelve month low of $3.46 and a twelve month high of $12.06. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of -13.17 and a beta of 1.80.

Marqeta (NASDAQ:MQ – Get Rating) last released its earnings results on Tuesday, May 9th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.03). Marqeta had a negative net margin of 24.14% and a negative return on equity of 12.97%. The business had revenue of $217.40 million for the quarter, compared to analyst estimates of $211.79 million. During the same quarter in the previous year, the company posted ($0.11) earnings per share. The business’s revenue for the quarter was up 30.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Marqeta will post -0.36 EPS for the current fiscal year.

About Marqeta

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Marqeta, Inc operates a cloud-based open application programming interface platform that delivers card issuing and transaction processing services to developers, technical product managers, and visionary entrepreneurs. It offers its solutions in various verticals, including commerce disruptors, digital banks, tech giants, and financial institutions.